Find Out How Much Wealth You Should Invest in Crypto  by@davidolarinoye

Find Out How Much Wealth You Should Invest in Crypto

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Welcome to HackerNoon’s Writing Prompts! Would you like to take a stab at answering some of these questions? The link for the template is HERE.

What cryptocurrencies have you most recently purchased? And why?

Pro Tip: You can add these cryptocurrencies as a disclosure on your HackerNoon about page.

None. But I would only advise the bitcoin strategy in my book to anybody who is not a professional investor or trader. It is not about the coin, it is all about the strategy

What cryptocurrencies have you most recently sold? And why?

Same answer; none. When you have a strategy and you follow the crypto cycles, individual events do not faze you.

What percentage of your wealth do you invest in cryptocurrencies? And how did you determine that percentage?

Typically, less than 10%. Crypto is something I have little control over. I have to follow the cycle to determine when to buy and sell. So, a large part of my financial life has to happen within those cycles. Hence, the less dependent on them I am, the better.

Which cryptocurrency/ies do you think has/have the most long-term utility value? And why?

Bitcoin. There are other promising cryptocurrencies, but only bitcoin is certain to stand the test of time. Things can change for other crypto projects in the near future but as it currently stands, every other cryptocurrency is subject to massive unfavorable changes

What is the most money you’ve made on a cryptocurrency? Which coin when?

Bitcoin. Late 2020 and mid-2019. 3X to 5X return.

What is the most money you’ve lost on a cryptocurrency? Which coin when?

In 2018. Ethereum and ncash

How would you describe your investment thesis?

Dollar-cost averaging and rebalancing technique following the 4 phases of the crypto cycle. More about that in my book - cryptoinvestbook.com

Lastly, do you have a hot cryptocurrency tip to share with the HackerNoon community?

Yes. This is not the bottom of the crypto market yet. (Bitcoin is around $29k as of writing). Crypto bears are always like this.

It goes without saying, but please #DYOR (do your own research).

Would you like to take a stab at answering some of these questions? The link for the template is HERE.

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